UK home sellers overprice their properties by as much as 21 per cent in wake of stamp duty holiday February 24, 2022 Rightmove revealed yesterday that asking prices saw their biggest monthly increase in over 20 years. Despite a property market boom, the gap between the asking price expectations of the nation’s sellers and what buyers are willing to pay is as big as 21 per cent in some areas of the market, according to data shared [...]
London house hunters face fierce bidding wars as property market set to become hyper-competitive February 19, 2022 House hunters wanting to buy a property in London this year are likely to face more competitive market conditions than in 2021. Since January, 51 per cent more buyers have entered the market and 35 per cent more property viewings took place compared to January last year, according to data from estate agency Chestertons. This [...]
9m bedrooms have vanished as nearly half of all homeowners change property to suit post-pandemic needs February 17, 2022 Close to nine million bedrooms have been “lost” as people have adapted their homes during the coronavirus pandemic, according to a property website. Four in 10 (41%) homeowners have changed their property to better suit their needs, Zoopla found. Among those making changes, more than half (53%) have entirely repurposed at least one bedroom while [...]
Londoners spend up to 72 per cent of their entire income on simply getting by in the capital February 2, 2022 London renters are forking out up to 72 per cent of their monthly household income simply to get by in the capital’s rental market. Nationwide, that figure is even higher, up to 77 per cent. The average UK rental household pays £808 per month in rent, accounting for 26 per cent of total monthly household [...]
Strongest year-start since 2005: Brits fork out average of £255,556 on houses as prices soar February 1, 2022 Buyers are paying more than ever before for their homes with the average UK house costing 11.2 per cent more than it did last year.
Even at seven times their income, single homebuyers are priced out of the market by £24,000 January 31, 2022 Despite many lenders relaxing their loan to income criteria, the average UK homebuyer is still priced out of the market unless purchasing with a partner. The current average loan to value, or the multiple of salary that a lender will loan to a buyer, has increased from 3.87 to 4.12 in the last ten years [...]
Nine out of ten Londoners can no longer afford the rent as demand for rooms goes through the roof January 31, 2022 Insurance giant Admiral has warned that nearly nine out of ten Londoners can no longer afford the average cost of rent in the capital. The demand for rooms to rent is much higher than the available supply, thereby leading to such increases that most Londoners cannot keep up with, the company cited as the main [...]
First-time buyer hell: The London areas where you pay more than £20k per square meter January 31, 2022 New research has revealed the most expensive areas for homebuyers in the UK. The area where your money will get you the least floor space is Kensington & Chelsea, with an average cost of £28,509 per square metre, while another affluent area ranks second, with the average house in Westminster costing just over £1m, with [...]
Weekend Read: What are London’s property hotspots? January 29, 2022 Which London boroughs have been the busiest housing markets in the past 12 months when it comes to the number of homes sold as a percentage of all private dwellings within each borough? On an individual borough-by-borough level, the busiest area n 2021 in London was Havering, according to data shared with City A.M. this [...]
Getting on the property ladder: Here are the most affordable places in Britain for first-time home buyers January 21, 2022 In London, Bromley is the most affordable borough for first-time buyers, while Kensington is unaffordable for those trying to get onto the property ladder. Nationwide, Scotland remains the cheapest place to snap up a property. First-time buyers face spending at least six times their annual wages to get on the property ladder in nearly half [...]